Latin America has enjoyed a decade of growth and demonstrated economic resilience in the context of global uncertainty. Sound macroeconomic policies, the expansion of domestic markets and an increased participation in global markets – coupled with favourable external conditions such as high commodity prices and capital flows – have resulted in better living standards in many countries with the region. Nevertheless, Latin American economies need to look at how they can overcome their dependency on extractive industries or agricultural outputs to increase their levels of productivity in order to keep the positive economic momentum.
With this objective in mind, several countries in the region have embarked in a wave of structural reforms covering a broad spectrum of areas –including fiscal, energy, education, labour and healthcare. An effective and prompt design and implementation of these structural reforms are critical to advance regional economies, and to increase their productivity, resilience and overall economic performance.
The Global Agenda Council on Latin America will work collaboratively to perform a critical analysis of the current agenda of economic reforms in the region, and to identify key elements leading to more modern and productive economies. Through its work, the council will survey the current state of economic reforms in the region, identify reforms with the potential to accelerate economic modernization and impact the economic productivity of the region, and highlight successful practices in the design and implementation of selected reforms.
Council Manager: Fernando J. Gómez, Content Lead, Regional Strategies - Latin America, firstname.lastname@example.org
Forum Lead: Marisol Argueta de Barillas, Head of Latin America, email@example.com
The lack of good transportation infrastructure in Latin America hinders trade as it increases costs and reduces supply reliability.
Latin America has been hit hard by falling commodity prices and balance sheet exposure to the appreciation of the U.S. dollar. It's time to go back to basics.